Pakistan’s Reko Diq Project Gets Boost as Japan’s JBIC Joins Lender Group

The Japan Bank for International Cooperation (JBIC) has formally agreed to join the Reko Diq lender group, signaling renewed international confidence in the country’s mining and investment potential. The commitment was made during a high-level meeting between Finance Minister Senator Muhammad Aurangzeb and JBIC Governor Nobumitsu Hayashi on the sidelines of the IMF and World Bank Annual Meetings in Washington D.C. Finance Minister Aurangzeb said JBIC’s inclusion would strengthen investor confidence and encourage more Japanese companies to expand operations in Pakistan. He called the move a “strong endorsement” of the government’s ongoing reform agenda and its success in restoring economic stability. The minister reaffirmed the government’s commitment to ensuring security and transparency for foreign investors, adding that Pakistan remains open to expanding cooperation with Japan in energy, industry, and infrastructure sectors. Aurangzeb also highlighted that Pakistan’s recent Staff Level Agreement (SLA) with the IMF and rating upgrades by all three major global agencies had sent “a clear message that the country’s economic reforms are credible and working.” The development marks one of the most significant milestones in the Reko Diq copper-gold project, which has been viewed internationally as a test case for Pakistan’s ability to attract long-term, sustainable foreign investment. The participation of a major institution like JBIC, analysts say, could help unlock additional financing and restore investor confidence in Pakistan’s extractive and industrial sectors. In addition to his meeting with JBIC, the Finance Minister also held talks with U.S. Congressman French Hill, the S&P Global team, and other international stakeholders, underscoring Pakistan’s push for a private-sector-led economic recovery supported by digital and structural reforms. Aurangzeb also addressed investors at the JP Morgan Seminar and spoke at a World Bank roundtable on tax digitalization, highlighting fiscal progress and governance reforms aimed at driving sustained economic growth.